Kospi dips as investors take profit after Wall Street rally

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Kospi dips as investors take profit after Wall Street rally

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Thursday. [YONHAP]

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Thursday. [YONHAP]

 
Shares opened weaker Thursday as investors took profit following strong gains in the previous session despite an overnight rally on Wall Street.
 
The Kospi shed 10.06 points, or 0.39 percent, to 2,537.00 in the first 15 minutes of trading.
 

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Overnight, U.S. stocks were buoyed by optimism surrounding joint AI investments by OpenAI, Oracle and SoftBank, which was touted by President Donald Trump.
 
The S&P 500 rose 0.61 percent, reaching its highest level in over a month, while the Dow Jones Industrial Average and Nasdaq climbed 0.30 percent and 1.28 percent, respectively.
 
In contrast, Seoul shares lost ground, led by losses among chipmakers.
 
Samsung Electronics plummeted 1.29 percent, while SK hynix plunged 2.88 percent despite having reported stellar earnings before the opening of the market.
 
Automotive and steel shares also retreated. Hyundai Motor and Kia declined 0.24 percent and 0.1 percent, respectively. Posco Holdings fell 2.08 percent.
 
Bio-related shares, meanwhile, advanced, with Samsung Biologics surging 5.03 percent after reporting record earnings in the previous session.
 
The local currency was trading at 1,436.65 won against the U.S. dollar at 9:15 a.m., down 0.95 won from the previous session.

Yonhap
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